Harsh Jain who is the biggest sports fan converted his passion into a practical business venture and obtained success in the niche. A determination is the only thing makes him reach this level. As a result, he is now a founder and CEO of Dream11.
He believes that it takes almost ten years since the company inception to develop an overnight success. He also recalls how he met forty VCs in the last two years to convince them about the viability of his business plan. As the techie and sports fan, he is the forerunner of the fantasy sports revolution in India.
Harsh returned to India after completing his engineering degree in 2008. Then, he and his friends realized that no options available for the sports fan in India to play the fantasy sports. They understood the market gap and wished to take this advantage. Thus, the idea of Dream11 came into existence.
Now, the company competes with 70 odd players in the industry although the venture controls about 90% of the market share. Not like other entrepreneurs, Harsh Jain has a distinct view of the competition so that he can able to sketch a perfect strategy to sustain in the top position. He believes that fantasy sports are somewhat new to India and thus he prefers calling his colleagues and competitors.
Challenges faced by Harsh Jain to set up fantasy sports platform in India
Fantasy gaming has been a hard thing always to gel with the Indian sports consumption. Even though the Indian sports consumption is entirely different when compared to others countries, Dream11 has made this difficult process easier. Frankly, the journey of the fantasy sports gaming in India has not been easy. People in India never wish to put money in and they wish to enjoy play something for free. They also need something quick and engaging and they have less attention span.
Setting up an industry, which resembles betting and gambling in the country in which they are highly prohibited is not an easy task. However, fantasy gaming has completely different features than online gambling or betting. It is definitely a tough job to make investors understand this. Dream11 has done their perfectly and get success in the Indian fantasy market. It is worth to say that this venture has changes the fantasy gaming sphere in India drastically.
The company even faced legal issues in the certain state of India as it often looked upon as the game of chance bordering on the gambling. To avoid these consequences, the founder is taking enough steps to create awareness about the fantasy sports games. Even though the company majorly offer cricket, they tend to expand their platform to large extent by including sports such as ISL, PSK, and other sports being covered with the leagues.